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India’s Chief Economic Advisor, V Anantha Nageswaran, assesses the economic impact of tariffs and the role of GST reforms in cushioning potential risks. While acknowledging the uncertainty around the direct effect of tariffs on exports and GDP, he highlights that GST reforms could help offset second and third-round effects by boosting domestic demand and stabilising sentiment. According to him, the net drag on GDP for the current financial year could be limited to around 0.2–0.3%, with growth es
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